NFT trade volume growth of 21,000 percent in 2021; A market that explodes



According to the data, $ 17 billion was traded on the NFT market last year; A figure that has increased by about 21,000 percent compared to 2020.

According to cryptocurrency, almost everyone is aware that the space of non-parabolic tokens has shown one of the best performances in the field of digital currencies in the last year. A new report from Nonfungible, a company active in providing data related to the NFT market, shows the growth rate. NFT’s sales averaged more than $ 17 billion last year, up 21,000 percent from $ 82 million in 2020. L’Atelier, a research firm that reports on the issue, says NFT’s total transactions in 2021 were $ 17.6 billion.

The unprecedented tokens, which began in 2021 only as digital works of art, have expanded over time. This concept includes economical avatars, game elements, collections and more.

The leap came when renowned American artist Beeple sold NFT for $ 69 million; A theme that made him one of the most valuable living artists in the world. This space also led to the growth of collections such as the Bored Ape Yacht Club, which has established itself as a cult in this growing space.

Available data show that the analytical site “Nonfungible.com” published one of the most cautious estimates of the volume of NFT trade in 2021. According to a forecast made by Chainalysis, the volume of transactions in this area in 2021 is about 40 billion dollars.

Gauthier Zupinger, one of the founders of NanoFanjbla, believes that this difference is due to the way they work. He said his company focuses only on legal transactions and does not take into account any business activities leading to money laundering or robot transactions.

Metavar’s role in the growth of the NFT market

Another factor that boosted interest in NFT last year was Metavars. After Facebook announced that it was changing its name to Meta and focusing on bridging the gap between the real and virtual worlds, interest in NFT and Metawares peaked.

Although Metavar’s digital backgrounds and other projects became popular in late 2021, the district sold $ 514 million. Collectible NFTs have the highest trading volume of $ 8.4 billion, followed by NFTs for games with $ 5.2 billion.

As the volume of transactions increased, consumer market penetration also increased significantly. In 2021, the number of portfolios purchased by NFT reached 2.3 million; In 2020, this number is only 75,000 addresses.

However, the latest data show that due to the recent hacking of OpenSea, the intense interest of users in NFT has decreased during this period. The trading volume of some of the best NFT projects has decreased significantly in the last 30 days, according to data published by CryptoSlam.

Lawmakers are not yet intervening in the NFT market

Despite the large volume of transactions, legislators from different countries are still not involved in the NFT space. On the one hand, there are people who see NFT as an ideal way to prove ownership of digital content, and on the other hand, some believe that this market encourages abusers in some way.

Most NFT transactions are speculative prices and there is now evidence that NFT is used for money laundering.

Growth in trade after NFT of 21,000% in 2021; An exploding market first appeared on the digital currency.

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